Approximately 50,000 ILA union longshoremen went on strike after failing to reach an agreement on a new contract with maritime companies

U.S. ports from Maine to Texas could shut down Tuesday if a union representing about 45,000 dockworkers carries through with a threatened strike. A lengthy shutdown could raise prices on goods around the country and potentially cause shortages and price increases at big and small retailers alike as the holiday shopping season — along with a tight presidential election —

Dockworkers with the International Longshoremen’s Association went on strike at midnight Tuesday, shutting down container freight operations in City ports and along the eastern seaboard and Gulf coast.

Longshoremen are on strike, shutting down East, Gulf ports. Economic losses of $5 billion per day can mean shortages, inflation and layoffs.

Thousands of longshoremen walked off the job at ports along the East and Gulf coasts at 12:01 a.m., Tuesday, Oct. 1, shutting down major ports.

A strike by port workers will affect a vital part of South Jersey's economy, raising concerns about shortages and inflation.

A short strike could have a limited economic impact given many companies have imported extra goods ahead of a possible work stoppage or shifted more shipments to West Coast ports.

The union representing thousands of dockworkers from Maine to Texas launched a strike over wages and the use of automation, shutting down major seaports.